Cemtrex to acquire the ROB Group

The ROB Group, consisting of 4 distinct operating companies, forms an electronics design, manufacturing, assembly, and cabling solutions provider that serves the Medical, Automation, Industrial, and Renewable Energy industries. The Rob Group had annual turnover of EUR 42.1 million in fiscal 2011 and also has a production facility in Romania. "This acquisition represents a critical step forward in the long term success of Cemtrex as we look to achieve our high end growth targets," said Saagar Govil, CEO of Cemtrex. "After looking at numerous potential acquisitions over the last several months, we saw this situation as the best way to expand into new markets as well as create long term shareholder value. We see significant growth potential for the long term throughout the electronics manufacturing services industry, in which ROB has a reputation as a leader," Mr. Govil continued. Cemtrex plans to complete the acquisition within the next 30 days.